Q4 2024 Bellwether Report

A key indicator of the health of the economy

The IPA Bellwether Report is a quarterly survey outlining companies’ marketing spend intentions and financial confidence.

The Bellwether Report is researched and published by S&P Global on behalf of the Institute of Practitioners in Advertising. The report features original data drawn from a panel of around 300 UK marketing professionals and provides a key indicator of the health of the economy. The survey panel has been carefully selected to represent all key business sectors, drawn primarily from the nation’s top 1000 companies.

Key findings from the Q4 2024 IPA Bellwether Report:

  • UK marketing budgets return to growth after flatlining in Q3, but post-Budget bounce is shallow
  • Companies choose caution for now as they assess the impact of new government policies, but 2025/26 budget setting plans reveal strong optimism and spending plans
  • Sharp growth in Event budgets shows companies' continued desire to generate leads in face-to-face settings
  • Direct marketing continues its impressive growth streak, although firms shy away from Main media advertising

Commenting on the latest survey, IPA Director General Paul Bainsfair said:

"Given the significant economic and geopolitical challenges that UK companies are facing, this latest IPA Bellwether Report paints an understandably cautious picture. However, it is encouraging to see that, despite these headwinds, UK companies are increasing their overall marketing budgets."